Photo: Richard Levine/Corbis via Getty Images

Viacom agreed to buy Pluto TV, a Los Angeles-based free internet TV service, for $340 million in cash.

Why it matters: It's a sizable bet against the growing wave of paid subscription content. Plus, it's a sizable payout for early Pluto TV investors, who in 2014 bucked conventional wisdom that TV viewership would be decimated by social media and mobile content.

  • ROI: Pluto had raised around $52 million from firms like USVP, Samsung, Scripps Network Interactive, ProSiebenSat.1 Media, Luminari Capital, Chicago Ventures, Windsor Media, UTA and Thirdwave Capital Partners.

The bottom line: "It's the latest digital technology company that Viacom has acquired over the past year to bring its brand, which consists mostly of legacy TV networks, into the digital future." — Sara Fischer, Axios

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Atlanta Mayor Keisha Lance Bottoms tests positive for coronavirus

Mayor Keisha Lance Bottoms consoles the family of Rayshard Brooks on June 23 in Atlanta, Georgia. Photo: Curtis Compton-Pool/Getty Images

Atlanta Mayor Keisha Lance Bottoms said on Monday that she has tested positive for the coronavirus after displaying no symptoms.

Why it matters: Lance Bottoms, one of several Black women on the shortlist to be Joe Biden's running mate, has risen to national prominence in recent months as part of a mass protests over racism and police brutality — driven in part by the killing of Rayshard Brooks by Atlanta police.

Updated 51 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 5 p.m. ET: 11,520,461 — Total deaths: 535,499 — Total recoveries — 6,231,052Map.
  2. U.S.: Total confirmed cases as of 5 p.m. ET: 2,911,888 — Total deaths: 130,101 — Total recoveries: 906,763 — Total tested: 35,515,075Map.
  3. Public health: Case growth outpacing testing in hotspots.
  4. States: West Virginia becomes latest state to mandate facial coverings in public.
  5. Politics: Cuomo accuses Trump of "enabling" the coronavirus surge — Sen. Chuck Grassley opts out of attending GOP convention over coronavirus concerns.

Trump ramps up culture war attacks

Photo: Tasos Katopodis/Getty Images

President Trump's attacks are spreading to sports that are cornerstones of rural, conservative white American life.

Why it matters: The culture war that engulfed the NBA and NFL is reaching other major leagues, with teams that stonewalled activists for years suddenly showing a willingness to listen.